Businesses bracing themselves up for new opportunities

The Executive Secretary of the Importers and Exporters Association of Ghana Samson Asaki Awingobit says that businesses are bracing themselves up for new opportunities and advancements that will reshape industries and drive unprecedented growth in 2024 speaking in an interview with Eye on Port he called on governments to reflect on existing taxes as they pose a threat for the sustainability of businesses in the country.

According to him, duties are the port and VAT on goods all culminate into the high cost of doing business in the country.

“We are interested to know what they're going to put in their manifestos so far as taxes and other government fiscal policies are concerned. We look forward to seeing what they will do to control cedi depreciation. What will they do to control inflation? What will they do to control interest rates? Who would assure us that whatever verdict that comes after the elections will be accepted? So that we have peaceful political stability that is environmentally friendly for business” he said.

He attributed the issue of under-declaring by some importers to the high cost of taxes and duties, adding that, the compliance level would be high if taxes were lower and fair.

“Why do they under-declare? If you take the sub-region, you realize Ghana is the highest so far as we are paying taxes, fees, and charges. Ever since I came to do advocacy in 2014 no government has shown interest with regards to shipping lines local charges”.

As the country prepares to go to the polls in December 2024 he called on political parties to include in their manifestos policies that would address the city depreciation, inflation, and high interest rates to create an enabling environment for businesses to thrive.